In its 2024 annual report, the Ethereum Foundation shared that nearly $500 million was invested in supporting projects within the Ether ecosystem during 2022 and 2023. The Foundation contributed $240.3 million, 48.3% of the overall funding.
The remaining funding came from various organizations, including MetaMask DAO, Optimism, Starknet, Gitcoin, Decentraland, MakerDAO, Aragon, Uniswap, and Protocol Guild.
This highlights the strong collaborative effort within the Ethereum community. In addition to the money spent on supporting projects, the Ethereum Foundation has revealed that it backs its entire ecosystem with more than $22 billion in treasury funds.
These treasuries belong to foundations, organizations, and decentralized autonomous organizations (DAOs). Major projects like Optimism, Uniswap, Mantle, Arbitrum, Gnosis, and Ethereum Name Service each have billions stored in their treasuries. Meanwhile, the Ether Foundation itself holds $970 million in its treasury.
Ethereum $22B treasury and conflict policy revealed
The report states that the amounts include both liquid and vested funds. The foundation mentioned that most projects primarily make up their treasuries with native tokens. The report said:
This means that the total value of a project treasury is much greater than the total value that could be deployed immediately in fiat terms. If a project tried to sell a significant portion of their treasury, it could have a large impact on the price of the underlying token.
Despite this, the Foundation noted that the amount reflects the “depth of resources” Ether has for the future. The organization explained that even if it uses only a small portion of this amount, it would still be sufficient to support and grow the ecosystem. In its report, the Ethereum Foundation also highlighted that it has implemented a conflict of interest policy.
This policy includes disclosure rules for Foundation members about investments over $500k, excluding ETH. The organization explained that high levels of exposure could exclude EF members from decisions involving potential conflicts of interest. Ethereum Foundation executive director Aya Miyaguchi shared on X that the policy strengthens their work’s integrity and enhances the ecosystem’s integrity overall.
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